US investment advisory firm MAI Capital Management has partnered with fintech platform iCapital to scale its alternatives business.
iCapital’s technology provides MAI’s advisers with a solution to simplify the process of reconciling alternative investment and fund data, streamline document management and fund finance activities, and enable more efficient workflows.
MAI’s investment team will also have the capability to create custom portfolios and complete related due diligence for clients.
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iCapital will manage the oversight functions and support ongoing operations for MAI’s advisers and clients.
Additionally, iCapital has agreed to manage a set of existing funds currently managed by MAI as part of the partnership.
“We took great care in selecting a technology partner to support and scale our alternatives business and felt a natural fit with the team at iCapital,” said MAI’s chief investment officer and managing partner, Kurt Nye. “Our focus is to build and manage bespoke portfolios built to preserve and create wealth across generations. With the support of iCapital, our team can now spend more time focusing on our diversified portfolios, balancing risk and deepening client relationships, instead of being bogged down by the operational intensity of alternative investments.”
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Steve Houston, managing director and co-head of iCapital Solutions, added: “As private market allocations become an increasingly important component of diversified investment portfolios, we share a common goal with MAI to help advisors scale without losing sight of what matters – helping their clients achieve better financial outcomes.”
MAI is a registered investment adviser and wealth management firm with $33.2bn (£24.8bn) in assets. Its private markets platform comprises alternative funds across various strategies including real assets, private equity, private credit, venture capital and hedge funds.
Read more: More than 90pc of financial advisors allocate to alternative investments
